Palos Verdes Real Estate Sales July 2015 For Palos Verdes Homes
Palos Verdes real estate sales for July 2015 for Palos Verdes homes indicates a decrease in sales compared to June. 71 Palos Verdes houses sold in July which decreased from the 90 homes sold in June and the 87 homes that sold in July 2014. There were 73 Palos Verdes single family homes pending in July which was nearly the same as the 75 homes pending in June. The number of active Palos Verdes homes for sale in July increased to 212 homes from the 199 homes for sale in June.
Average sales price for Palos Verdes homes sold in July increased to $1,855,000 from $1,761,000 in June and from $1,550,000 in July 2014. Price per square foot for Palos Verdes houses that sold/closed escrow in July increased to $678 from $584 in June. Average days on market in July was 50 days which decreased from the 75 days in June. Months of inventory (months it would take to sell existing inventory at the current rate of sale) increased to 3 months in July for Palos Verdes homes for sale compared to 2.2 months in June. A “normal” market is considered 6 months of inventory and Palos Verdes real estate “months of inventory” is significantly lower indicating the continuing high demand for Palos Verdes homes. Nationally, there is a 5.3 month’s supply of homes on the market. Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 216 single family Palos Verdes homes for sale. 104 Palos Verdes houses are in escrow (47 homes have pending sales and 57 homes are accepting backup offers). Additionally, 13 homes have sold/closed escrow in the first 10 days of July at an average sales price of $1,937,865.
To read last month’s report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
